Cemindia Projects Limited (formerly ITD Cementation India Limited) has submitted its Annual Report for the financial year ended March 31, 2026 to BSE Limited and the National Stock Exchange of India Limited, pursuant to Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was made on May 29, 2026, and also includes the Notice convening the company's 48th Annual General Meeting (AGM), scheduled to be held on Saturday, June 27, 2026 at 2.30 p.m. (IST) through Video Conferencing / Other Audio Visual Means.
Financial Performance: Strong Revenue Growth and Record Profitability
FY 2025-26 delivered robust financial results across both standalone and consolidated bases. The following table summarises the key performance highlights:
| Metric: |
FY 2025-26 |
FY 2024-25 |
Change |
| Consolidated Revenue from Operations: |
₹10,061 crores |
₹9,246 crores |
~9% increase |
| Consolidated Profit After Tax (PAT): |
₹598 crores |
₹373 crores |
~60% increase |
| Consolidated EBITDA: |
₹1,199 crores |
— |
28% increase |
| Standalone Revenue from Operations: |
₹9,983 crores |
₹9,246 crores |
~8% increase |
| Standalone Profit After Tax (PAT): |
₹594 crores |
₹373 crores |
~59% increase |
The company's balance sheet remained healthy, with a net debt-to-equity ratio of 0.22, reflecting disciplined capital management. The strong financial performance was accompanied by credit rating upgrades to A+ (Stable) from both CARE Ratings and ICRA during the year.
Record Order Book and New Contract Wins
The company secured record new order inflows during FY 2025-26, reinforcing its multi-year revenue visibility. Key order book metrics are presented below:
| Parameter: |
Details |
| New Orders Secured in FY 2025-26: |
₹14,821 crores |
| Order Book as on March 31, 2026: |
₹24,545 crores |
| Projects under Execution: |
~80 |
| Market Capitalisation (March 31, 2026): |
₹8,773 crores |
Major contracts secured during FY 2025-26 with a value of ₹200 crores and above included projects spanning metro rail tunnels in West Bengal and Maharashtra, a data centre in Maharashtra, four-laning road works in Bihar, container terminal berths at Vizhinjam in Kerala, jetty construction works in Abu Dhabi, and infrastructure works at Jaipur and Trivandrum International Airports, among others.
Several landmark projects were also completed during the year, including the Mumbai Underground Metro in Maharashtra, the Kolkata Underground Metro in West Bengal, the Vizhinjam breakwater in Kerala, and the Circuit Bench of Calcutta High Court at Jalpaiguri in West Bengal.
Strategic Transformation: Integration into the Adani Group
FY 2025-26 marked a defining strategic milestone as the company became part of the Adani Group. Italian-Thai Development Public Company Limited, the erstwhile promoter, divested its entire shareholding of 8,01,13,180 fully paid-up equity shares of ₹1 each (representing 46.64% of the voting share capital) to Renew Exim DMCC, an Adani Group entity. Pursuant to this acquisition, Renew Exim DMCC made an open offer to acquire up to 4,46,64,772 equity shares (representing 26% of the voting share capital) at ₹571.68 per share, and subsequently acquired 20.83% of the voting share capital from public shareholders. Renew Exim DMCC became the promoter with effect from May 28, 2025.
Following shareholder approval at the 47th AGM held on August 7, 2025, the company's name was changed from "ITD Cementation India Limited" to "Cemindia Projects Limited" with effect from August 19, 2025.
ESG Performance and Sustainability Highlights
The company demonstrated strong environmental, social, and governance performance during FY 2025-26. Key ESG metrics are outlined below:
Environment:
- Total Energy Consumed: 14,05,092 GJ
- Total Water Reused: 56,414 KL
- Total Waste Diverted from Disposal: 13,763 MT
- Use of low-carbon materials resulted in a reduction of approximately 97,515 MT of CO2 equivalent emissions
- Capital investment in energy conservation equipment: approximately ₹5.76 crores
Social:
- Safe Man-hours achieved: 128 million
- EHS Awareness and Training Sessions Conducted: 1,776
- Lost Time Injury Frequency Rate (LTIFR): 0.09
- Permanent Employees as on March 31, 2026: 3,187
- Contractual Personnel and Workforce: 33,621
Governance:
- Independent Directors on Board: 50%
- Statutory Committees Chaired by Independent Directors: 80%
- CSR Amount Spent in FY 2025-26: ₹6.60 crores against an obligation of ₹6.59 crores
Dividend and Corporate Actions
The Board of Directors has recommended a dividend of ₹3 per equity share of face value ₹1 each for FY 2025-26, subject to shareholder approval at the ensuing AGM. The total cash outflow on account of dividend, if approved, would be ₹51.54 crore. The Record Date for determining shareholder entitlement has been fixed as Friday, June 12, 2026, with the payment date set as Friday, July 03, 2026.
The closing balance of retained earnings as of March 31, 2026, after all appropriations and adjustments, stood at ₹1,590.58 crore. The Board does not propose to transfer any amount to General Reserves for FY 2025-26.
AGM and Statutory Compliance
The 48th Annual General Meeting is scheduled for Saturday, June 27, 2026 at 2.30 p.m. (IST) through Video Conferencing / Other Audio Visual Means. Remote e-voting will be available from Wednesday, June 24, 2026 (9.00 a.m. IST) to Friday, June 26, 2026 (5.00 p.m. IST). The Annual Report and AGM Notice are available on the company's website at https://www.cemindia.co.in/investors/financial/annual-reports/ . The statutory auditors, M/s. Price Waterhouse Chartered Accountants LLP, have expressed an unmodified opinion on both the standalone and consolidated financial statements for FY 2025-26.
Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE686A01026/1e094b81157f4eb0.pdf
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